The Federal Government has declared the distribution of 8,925 houses to eligible applicants across the country through the National Housing Programme.
The National Housing Programme’s statement, conveyed by Dr. Marcus Ogunbiyi, the Permanent Secretary of the Ministry of Housing and Urban Development in Abuja, announced this.
Mr. Ogunbiyi explained that the initial phase of the allocation process was completed following a thorough review of the conditions and sales procedures for houses under the NHP.
He said, “Out of a total of 8925 applications received, 1, 294 were for outright payment, 2408 for mortgage, 2184 for rent to own and 3039 were for instalment payment modes. The offer of new provisional allocation letters for the first batch of successful applicants under the outright payment mode is now ready. The successful subscribers would be contacted by the Federal Controllers of Housing and Urban Development in the states as well as the Chairman/CEO, Nigerians in Diaspora Commission from Thursday for collection.”
Mr. Ogunbiyi noted that applicants utilizing mortgage, rent-to-own, and installment payment options, who are required to be subscribers to the National Housing Fund, are currently undergoing profiling.
The permanent secretary noted that there were no completed houses in Abia, Lagos, Bayelsa, Rivers states and the FCT.
He said that allocation of houses in the listed states would be done after the completion of the housing units later in the year.
The NHF is a Federal Government scheme, which entitles Nigerians above 21years in paid employment to a low interest, government funded loan.
Members of the scheme contribute 2.5 per cent of their monthly salary to the fund through the Federal Mortgage Bank of Nigeria.
The maximum amount obtainable under the NHF used to be N5 million but has since been increased to N15 million.
The borrowed capital is repayable over a maximum of 30 years at the rate of six per cent interest.
